MAHINDRA & MAHINDRA TO ACQUIRE PUNJAB TRACTORS

摘要

India's largest tractor maker, Mahindra & Mahindra Ltd. (M&M), has acquired the fifth-largest, Punjab Tractors Ltd. (PTL), beating Ashok Leyiand in a closely contested bidding war. Financial details were not disclosed, but sources said that the company signed a deal to acquire 43.3% stake in Punjab Tractors Ltd. at a price of Rs 360 (USD8.37) per share. M&M Ltd. along with its subsidiary Mahindra Holdings and Finance Ltd. agreed to acquire the stake from Actis Group and the investment companies of the Burman family, subject to the receipt of requisite approvals.